Loomis plans to retain all of the Portland-based company's employees and contracts, worth about $6 million, chief executive Lars Blecko said in a written statement.

Both companies handle and transport cash for banks and other institutions. The sale will take effect Saturday.

Oregon Armored Service has a 26-year history in the state, and offices in Portland, Salem, Eugene and Medford. Loomis will fold the company into its U.S. division, which already has locations in Portland and Roseburg.